Did you hear?... Timberland posts record revenues in Q3 but saw its net profit collapse

Timberland managed to post record revenues in Q3, up 5.6 percent to $396.2 million, but saw its net profit collapse under the weight of higher leather costs.
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Timberland managed to post record revenues in Q3, up 5.6 percent to $396.2 million, but saw its net profit collapse under the weight of higher leather costs, increased promotional costs, and what CEO Jeffrey Swartz referred to as "higher sales returns and allowances in a softer and more promotional U.S. market." Swartz's outlook for Q4 in the face of "soft U.S. market trends" is for modest to flat revenue growth. Looking into 2002, Swartz predicted flat growth for the first half of 2002 as well.

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